Proactive investors

THOR’S PROJECT OVERVIEW

Tungsten-Molybdenum Assets

The Molyhil Tungsten - Molybdenum Project

The Molyhil deposit occurs in two adjacent skarn bodies that contain outcropping molybdenite and scheelite mineralisation. Since mid 2004 it has been the subject of systematic test
work comprised of geophysical exploration, a diamond and RC drilling program, surface and underground bulk sampling, metallurgical test work and a definitive Feasibility Study, the
results of which are summarised on page one.

Hatches Creek

Hatches Creek project is comprised of a group of tenements located in the central portion of the Northern Territory. The project has not been subjected to modern exploration for
vein hosted mineralisation. Shear systems have not been systematically tested for gold mineralisation nor have the eluvial and alluvial sediments been systematically tested for
wolframite. A provision for exploration funds has been made for this project.

Uranium Assets

Through the acquisition of Hale Energy Limited in 2006, Thor has acquired a number of project areas in the Northern Territory of Australia with prospectivity for uranium
mineralisation, with a history of exploration and proximity to existing discoveries.

Hale River Project

The Hale River project covers 160km2 of Tertiary basin sediments. These sediments are prospective for palaeochannel roll-front type uranium deposits. Previous exploration of the project area, undertaken between 1979 and 1981, delineated a redox front within sands containing anomalous uranium. A Hoist EM survey has been completed over the interpreted redox boundaries and close-spaced drilling of target zones is planned for 2007. Previously
identified lignite seams will also be drilled as these represent targets for high grade uraninite or coffinite where lignite has been replaced by black uranium oxides.

Harts Range Project

The Harts Range project covers 362km2 of the Proterozoic Harts Range Metamorphic Complex. The tenements were explored for uranium between 1992 and 1995 following
the flying of airborne radiometric and magnetic surveys. Numerous occurrences of uranium mineralization were found, many of which were associated with alteration along structural breaks or contacts. Early exploration results have confirmed the potential at Harts Range with rock chip samples as high as 31% uranium.

Plenty Highway and Bundey River Projects

Thor’s contiguous Plenty Highway and Bundey River projects contain about 1,200km2 of Tertiary sediments, which cover an internally drained area within the Proterozoic Arunta Block. The sediments have the potential to host economic palaeochannel uranium mineralisation. A Hoist EM survey has been completed over the interpreted redox boundaries and close-spaced drilling of target zones is planned for 2007.

Curtis Pound Prospect

The Curtis Pound project is situated over Proterozoic rocks of the Tennant Inlier and contains a number of identified radiometric anomalies. The tenements on which this project is located are granted.